The primary purpose of a premium audit is to calculate your final premium. When your policy was issued, the premium was an estimate of an exposure. basis (usually payroll or sales) multiplied by a rate. The rate used is determined. by how the exposure base is classified. The audit will examine your records to. establish the actual exposure basis and make sure that the correct classification.
Consent dividend is a dividend that some shareholders agree to give back or leave with the company issuing for the purpose of either expansion or increasing its cash positions. The shareholder also agrees to report the dividends for tax purposes.
The amount of a consent dividend is considered as distributed in money by the REIT to the foreign shareholder on the last day of the tax year of REIT and as contributed to the capital of the REIT by the foreign shareholder on such day. [26 USC Â§ 565(c).]...